News Digest from November 17, 2022

by RemoteHub
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Field: European Remote Job Market

10 European startups engaging employees for more connected teams | EU-Startups

Most job seekers prefer remote work

The study found that more than 60% of job seekers hope to find remote opportunities. Among those surveyed who plan on staying at their jobs, the reasons gauged by Workhuman show corporate efforts to keep employees happy have paid dividends.

That’s why we are happy to share with you 10 European startups engaging employees for more connected teams

1. HeyTeam. A PeopleOps platform streamlines the employee journey, creating more personalized and collaborative workflows to increase employee recognition and retention.

2. Trickle. This service tracks real-time employee experience to keep them engaged and happy at work. 

3. Workvivo. An employee communication platform that combines an enterprise social network, a social intranet, and an employee app – describes itself as a new breed of employee communication. 

4. Factorial. The startup’s vision is to enable SMBs globally to make better people decisions based on data and increase data-driven insights.

5. Coverflex. A startup is to improve the way companies compensate their people, making it more transparent, flexible, and accessible for everyone to make the most of what they get. 

6. Figures. It is one of the first European players aiming to help companies to design and run their compensation policies to bring about more salary fairness and transparency with its SaaS platform.

7. Cobee. The startup provides a flexible employee benefits management platform that brings benefits to staff – from gyms to insurance products and vouchers.

8. YourCampus. It aims to reform how benefits and perks are approached – making it more straightforward for management and giving employees a better experience.

9. Ledgy. It wants to empower teams with the tools they need to leverage the total value of equity. 

10. Beekeeper. It is a provider of an enterprise communication platform for multiple industries. It allows users to communicate with employees and team members.

Source: EU-Startups

Six out of ten Spaniards rely on word of mouth to find a job: study | The Local

The preferred means of job seeking for unemployed people in Spain is to ask friends and family, official data reveals about a trend which is closely linked to the ingrained Spanish tradition of “enchufe”. 

A work survey by Spain’s National Statistics Institute reveals how when it comes to looking for work, the first port call for Spanish jobseekers is the people they know.

A total of 57.8 percent of surveyed respondents said they asked family or friends about any jobs they knew were available, making it the most common way to look for work in Spain. 

This was followed by looking at job ads (48.1 percent), contacting companies and employers directly (41 percent), updating their CVs (35.4 percent), replying or posting job ads (34.6 percent), contacting a public job seekers’ agency (20.4 percent) or a private one (15.12 percent). 

“The lingering issue of Spain’s labour market is the intermediation between those looking for work and those offering it,” Asempleo, a Spanish association of recruitment agencies, told El Economista. 

Source: The Local

Field: USA Remote Job Market

U.S. Businesses Set Sights on Expansion Despite Economic Uncertainty | Business Wire

The independent research, which recently surveyed 1000 US SME decision makers, considered where and how they are planning to invest resources and grow their operations abroad in 2023 and beyond.

Growth opportunities seen in NA, Europe and the UK/Ireland

When asked what is most critical to their business expansion, 82% of respondents said that maintaining current talent is a crucial strategy to support future growth plans, with many prioritizing employee retention. Ways to retain employees include increasing salaries (44%), providing better benefits (43%), and investing in career training and development (41%).

High marks for job satisfaction and productivity in remote work

Recent reports have cited “The Great Resignation” as an ongoing economic trend of employees leaving their jobs during the past few years. Survey findings, however, found that 52% plan to stay at their company, with the top three reasons being ‘job enjoyment’ at 64%, followed by ‘like working with their teams’ at 50% and 49% noting that they have a high level of job satisfaction.

23% of respondents said they will look for another job in the next 7-10 months. When asked why they would leave, the highest percentage, 43% said they would leave for better opportunities elsewhere; 30% said time for a change; 24% had no reason, and 23% saying their company was not growing. The survey also found that remote work has proven successful, with 50% feeling just as productive, 34% more productive and only 10% feeling less productive.

“Our people are our greatest assets at Airwallex. We are committed to supporting the needs of our growing team across the globe, and are continuing to hire across all teams and levels,” said Adusumilli. “Working in a start-up environment can be especially grueling, and we want to ensure our team is appreciated, passionate about their work, and excited about our mission to help companies extend their reach across the globe. We do this by creating an environment of creativity, support, and teamwork.”

Source: Business Wire  

ManpowerGroup Talent Solutions’ Total Workforce Index™ Reveals United States, Singapore, and Canada as the Top Markets for Talent | MarketScreener

Today’s labor markets are characterized by intense competition for skilled workers, with 75% of companies globally reporting talent shortages and difficulty hiring — a 16-year high according to ManpowerGroup’s 2022 Talent Shortage Survey. This year’s revamped TWI places more emphasis on the impacts of remote work, the growing willingness and flexibility of employers to scale back education requirements and choosing to skill candidates on the job. There’s also a heavier focus on the age of the workforce. As older workers leave the labor market, more companies are cultivating sustainable populations of talent by prioritizing the availability of large pools of Gen Z and millennial workers. Additionally, cost of living indices, wage inflation rates, and exchange rate volatility are new factors introduced into the TWI based on the significant impact of these issues on organizations and their workforces. This helps to provide a clearer picture of economic stability as companies make workforce mix and location decisions.

“In a digital-first global economy, skilled talent is the new currency for business and economic growth,” said Dave McGonegal, Vice President of Talent Solutions Consulting & Advisory. “Organizations looking to separate from the pack turn to the Index to help them navigate change in real-time. This includes navigating new markets that will enable companies to compete for much-needed talent proactively and creatively, while still meeting business objectives. Companies need to become employers of choice, regardless of location, and factor in the needs most important to employees.”


The top five markets for cost efficiency are Thailand, Indonesia, Bahrain, South Africa, and the Philippines. These countries are the most employer-friendly in terms of wage growth, cost of labor, government incentives, and remote work readiness.

The U.S., United Kingdom, and Israel scored favorably in workforce availability with factors including availability of skilled workers, labor force participation, gender participation, remote work capabilities, and access to remote talent.

Singapore, Ireland, and Australia rank high for having more favorable regulatory environments for sustainable access to on-site and remote talent, due to relaxed border restrictions and geopolitical situations.

The U.S., Singapore, and Mexico have the highest potential productivity, including the ability to support remote work, allowing for greater access and ease of work.

In Central and Eastern Europe, there’s high demand for IT skills, largely due to lost access to Russian talent, which was one of the world’s largest pools of IT talent.

Switzerland and the Nordic countries rose to the top for life sciences manufacturers, with more advanced production requirements, while Mexico finds limitations due to regulations requiring full-time employment.

Source: Market Screener

Field: Update of leading companies

Amazon reportedly plans to lay off about 10,000 employees starting this week | CNBC

Amazon is planning to lay off approximately 10,000 employees in corporate and technology roles beginning this week, according to a report from The New York Times. Separately, The Wall Street Journal also cited a source saying the company plans to lay off thousands of employees.

Shares of Amazon closed down about 2% on Monday.

The cuts would be the largest in the company’s history and would primarily impact Amazon’s devices organization, retail division and human resources, according to the report. The reported layoffs would represent less than 1% of Amazon’s global workforce and 3% of its corporate employees.

The report follows headcount reductions at other tech firms. Meta announced last week that it’s laying off more than 13% of its staff, or more than 11,000 employees, and Twitter laid off approximately half its workforce in the days following Elon Musk’s $44 billion acquisition of the company.

Source: CNBC

Cisco plans to cut 5% of workforce under $600M restructuring plan | Fierce Telecom

Cisco unveiled plans to realign its workforce over the coming months to capitalize on key growth opportunities, looking to strengthen its enterprise networking, security and platform offerings. But the pivot won’t come cheap. 

The restructuring will include the shuffling, layoff and hire of new talent and the slimdown of its real estate portfolio to reflect an increase in hybrid work. A company representative told Fierce the plan will impact about 5% of its workforce. As of July 30, 2022, the company had approximately 83,300 full-time employees, meaning approximately 4,100 people will lose their jobs.

But the representative noted Cisco will be hiring for other roles and expects to end its current fiscal year with “roughly the same” number of employees as it had at the start.

“This decision was not taken lightly, and we will do all we can to offer support to those impacted, including generous severance packages, job placement services and other benefits wherever possible,” the representative said. The job placement assistance will include doing “everything we can do” to help affected employees step into other open positions at the company, the representative added.

Source: Fierce Telecom

Field: Freelance Market

Time to formally protect workers in the gig economy | Manila Bulletin

The gig economy is defined as a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.

Senator Risa Hontiveros proposed that online platforms that secure services of independent contractors shall be “held liable for injuries sustained by workers in the performance of their duty.”

“We have heard stories of freelance workers and independent contractors being abused and exploited for projects only to be underpaid, receive delayed payments after a year, or not be paid at all. Freelancing isn’t for free.”

Gig worker or not, every human being deserves the full protection of the law — more so for Filipino workers who are earning a decent living, toiling each day under the sun, and working their fingers to the bone.

Source: Manila Bulletin

10 Tips to Achieve Your Financial Goals as a Freelancer | MUO

Finances can be a worrisome topic for freelancers. Unlike employees whose salary and benefits are clearly defined each month, your income is more variable. You’re also responsible for paying your own benefits, such as health insurance.
Just like everybody else, you can plan wisely. Here are some tips to help you achieve your financial goals.

Track Your Financial Goals

If you don’t have much money, the more that you need to plan for your finances. Use a personal goal-tracking app like Todoist to set, edit, and keep tabs on your financial goals.

2. Diversify Your Income Streams

Here are some ideas to diversify your income:

Sell products on an e-commerce site like Shopify.

Try these apps to help you discover great stocks to invest in.

Rent out the property.

Write an ebook you can sell.

Learn how to make money on YouTube.

3. Keep Track of Your Expenses

Goal setting is an important step to gaining financial freedom as a freelancer. But you’d have to follow through and track where your money goes. Cut off what you can cut off, and save what you can save. Download budget-tracking apps like Mint or money-saving apps like Savings Goal.

4. Learn From Financial Experts

If you feel lost and don’t know where to start when it comes to your financial goals, it’s best to learn from those who have gone ahead of you. Check out the best free ebook download sites to get financial planning sources that you can read during your spare time.

5. Set the Right Rates

Setting your rates too low leads to frustration, feeling shortchanged, burnout, and money problems. If you know that you’re offering value to a client, don’t be afraid to ask for a fair rate.

6. Focus on Serving Your Ideal Client

Your ideal clients are those you’re excited to help, promote, and establish a long-lasting professional relationship with. Working with these clients gives your job meaning and purpose. And if you’re happy at work, earning won’t become a chore.

7. Upgrade Your Entrepreneurial Skills

Entrepreneurial skills help you market yourself better as a freelancer. You may be the best in your field, but if no one knows about it, you won’t get clients. If you want to learn how to market yourself better, invest in an online digital marketing or entrepreneurship course.

8. Invest in High-Value Clients

High-value clients are repeat customers. They help build your credibility, give you good references and attract new customers for you. Be intentional about building solid professional relationships from the get-go.

9. Create a Contract With Clients

Another common problem freelancers encounter is job creep. You lose valuable time and money when a client contacts you beyond your paid hours and asks you to do work beyond your job scope. To spare yourself from having a difficult conversation with a client, make sure you create a job contract that specifically outlines how much you’re going to get paid, what your consultation fee is, what your deliverables are, and other fees that your freelance work might require (e.g., if you need to pay for an app).

10. Immerse Yourself in Your Niche

To master your niche:

Be passionate about continuous learning and identify mentors in your field.

Use LinkedIn to your advantage, taking note of influencers and career coaches who might help you move forward in your career and give you tips for hitting your financial goals.

Try reaching out and, if you can, connect with a coach to help you stay motivated on your career path.

Source: MUO

Freelancers, how do you determine your price? | Media Update

Estimating what your effort is worth is definitely not an easy task and there are many things to bear in mind when putting a price on your services.

As a freelancer, your unique selling points give your services added value and are exclusive, allowing you to charge more than your competitors. Therefore, when you are determining your price, it is essential to consider how much your services are worth when taking your unique selling points into account.

When calculating how much you should charge, it is also crucial that you consider how much your competitors are charging for the same services. This will give you a good ballpark figure, which you can refer back to or that can set the groundwork for determining your prices.

Once you have considered how the above factors influence how much you will charge clients, you need to decide what pricing strategy you will use. There are two main pricing strategies that freelancers can implement:

1. Hourly pricing

2. Project-based pricing.

Basically, anything you have to pay to do your freelance work should be considered when you formulate your prices. This will ensure that you always profit from your work and don’t just make ends meet.

Source: Media Update

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